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ESS flow batteries first taker of Munich Re’s ‘performance insurance’

Fri, 03/08/2019 - 00:00 -- John Shepherd
ESS flow batteries first taker of Munich Re’s ‘performance insurance’

Munich Re has launched an insurance policy for battery manufacturers to insure against the risk of their products not delivering as promised.

The Germany-based insurance group said the move would allow manufacturers to offer long-term performance guarantees, “whose value is backed by the insurance coverage”.

And US-based all-iron flow battery maker Energy Storage Systems confirmed it was including 10-year insurance coverage on its long-duration energy storage products through Munich Re.

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